Trinidad stakeholders calls for regional unity amid US tariffs

Stakeholders across Trinidad and Tobago are urging the government and regional leaders to collaborate with the United States to mitigate the potential fallout from an increase in reciprocal tariff rates from 10 to 15 percent, set to take effect on Thursday, August 7.

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The tariff hike stems from an executive order issued by the White House on July 31, 2025, raising concerns among business and agricultural sectors that rely heavily on export trade with the United States.

In a statement issued this week, the Trinidad and Tobago Chamber of Industry and Commerce (TT Chamber) called on both the Government of Trinidad and Tobago and the Caribbean Community (CARICOM) to urgently engage with the US government.

“This latest action represents a significant departure from the long-standing principles of the Caribbean Basin Initiative (CBI),” the release stated, referring to the US policy framework designed to promote economic development in the Caribbean through preferential market access.

“Trinidad and Tobago, as a key beneficiary under the Caribbean Basin Economic Recovery Act (CBERA), has long relied on stable, preferential trade with the United States to bolster its manufacturing and export capacity,” it added.

The Chamber also emphasized the need to revisit and modernize the CBI to ensure its relevance in today’s evolving global trade and geopolitical climate.

Meanwhile, concerns are mounting within the agriculture sector. Donny Rogers, Director at the Agricultural Society of Trinidad & Tobago, warned that the tariff increase could further undermine the country’s fragile export base.

“By Thursday, we will have an increased tariff of 15 per cent on goods we export to the United States. Generally, energy-related products and some fertilisers are exempt. Therefore, this means that the impact on the next classifications of goods originating from T&T would be manufactured goods as well as agricultural exports,” Rogers said.

He noted that the country has lost ground in agricultural production since the onset of COVID-19, reducing its export capacity to the US. “An issue further exacerbated by the tariff increase,” he added, though he remains optimistic that corrective measures could still be implemented.

With just days before the new tariff structure is enforced, pressure is mounting for regional leaders to respond swiftly in order to safeguard Caribbean economies and preserve vital trade relationships with the United States.